INDUSTRIES

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MARKETSAdvertisinginLatinAmericaCHAPTER

01OverviewAdvertisingspendinginLatinAmericafrom2022to2026(inbillionU.S.dollars)AdvertisingspendinginLatinAmerica2022-202635302529.727.425.523.722.320151050202220232024*2025*2026*3Description:ThesourceforecastthatadvertisingspendinginLatinAmericawillamounttoapproximately25.5billionU.S.dollarsin2024,up7.6percentfrom23.7billiondollarsayearearlier.Theannualfigurewasprojectedtocontinueincreasing,reaching29.7billiondollarsby2026.ReadmoreNote(s):LAC;2022and2023;*Forecast(withArgentina'sfiguresadjustedforinflation).ReadmoreSource(s):DentsuAnnualchangeinadvertisingspendinginLatinAmericafrom2022to2026AnnualchangeinadvertisingspendinginLatinAmerica2022-202616%14%12%10%8%13.4%8.5%7.6%7.3%6.1%20236%4%2%0%20222024*2025*2026*4Description:Thesourceforecaststhat,in2024,LatinAmerica'sadvertisingspendingwillgrowby7.6percent.Thesamestudyprojectedsingle-digitincreaseratesforthefollowingtwoyears,withtheLatinAmericanadspendreachinganestimated29.7billiondollarsby2026.ReadmoreNote(s):LAC;2022and2023;*Forecast(withArgentina'sfiguresadjustedforinflation).ReadmoreSource(s):DentsuLatinAmerica'sshareintotaladvertisingspendingworldwidefrom2014to2023ShareofLatinAmericaintotaladspendworldwide2014-20233.3%3.2%3.2%3.2%3.1%2.9%3.0%2.7%2.6%2.6%2.6%2.5%2.0%1.5%1.0%0.5%0.0%2014201520162017201820192020202120222023*5Description:In2023,LatinAmericaaccountedforanestimated3.3percentoftheworld'sadvertisingspending.Thatpercentagewasthehighestwithinthepresentedperiod.ReadmoreNote(s):LAC;2014to2023;atcurrentprices;*Forecast.ReadmoreSource(s):DentsuDigitaladvertisingspendinginLatinAmericaandtheCaribbeanin2024,bysubregion(inbillionU.S.dollars)DigitaladspendinLatinAmerica&theCaribbean2024,byregion1815.591614121085.866421.111.070SouthAmericaMexicoCaribbeanCentralAmerica6Description:Fromtheselectedregions,therankingbyadspendinginthedigitaladvertisingmarketisledbySouthAmericawithanestimated15.59billionU.S.dollarsandisfollowedbyMexico(5.86billiondollars).Incontrast,therankingistrailedbyCentralAmericawith1.07billiondollars.?Findotherinsightsconcerningsimilarmarketsandsegments,suchasarankingofsubsegmentsinVietnamregardingadspendingintheDigitalAdvertisingmarketasawholeandarankingbycountryregarding[...]ReadmoreNote(s):LAC;asofOctober2024Source(s):StatistaDigitalMarketInsightsRevenuesofselectedagencyholdingsinLatinAmericafrom2018to2023(inmillionU.S.dollars)RevenuesofselectedagencyholdingsinLatinAmerica2018-2023WPP*IPGOmnicomPublicisGroupe*HavasGroup*1,4001,2001,00080060040020002018201920202021202220237Description:In2023,fourofthefivelargestglobaladvertisingholdingsoperatinginLatinAmericasurpassed2019pre-pandemicresults.WPPplcrecordedthehighestrevenueintheregionatoveronebillionU.S.dollars–almost10percentmorethanfouryearsearlier.Meanwhile,OmnicomGroup's2023revenuestoodjustbelow387milliondollars,adecreaseoffourpercentcomparedtothe2019figure.

ReadmoreNote(s):LAC;2018to2023;*StatistarecalculatedthefiguresfromoriginalcurrenciesatexchangeratesofDecember31ofeachyear,basedonthissource.Datawasretrievedfromfinancialreportsofthefollowingcompanies:InterpublicGroupof[...]

ReadmoreSource(s):Statista;VarioussourcesCHAPTER

02MediabenchmarksChangeinadvertisingspendinginLatinAmericain2024and2025,byselectedmediumChangeinadvertisingspendinginLatinAmerica2024-2025,byselectedmedium202426%15.6%8%2025*SocialmediaDigital(total)Traditional(total)OOH24.4%15.3%6.1%20%9%----SearchTV7%Video11%9Description:Socialmediaplatformsrankedasthefastest-growingadvertisingchannelinLatinAmericain2024andwereforecasttokeepthatpositionin2025,withadspendingincreaseratesof26and24.4percentineachrespectiveyear.Digitalchannels'adrevenuesinLatinAmericaaltogetherrose15.6percentin2024andwereprojectedtogrowby15.3percentinthefollowingyear.Meanwhile,traditionaladmediaincreasedbyeightpercentandwereexpectedtodecelerateto6.1percentin2025.

ReadmoreNote(s):LAC;2024;*Forecast.2025projectionsforOOH,search,TV,andvideonotavailableatthesource.ReadmoreSource(s):Adlatina;IPGMediabrands;MagnaGlobalAnnualchangeinTVadvertisingspendinginLatinAmericain2023and2024AnnualchangeinTVadspendinginLatinAmerica2023-20246.8%6%5%4%3%2%1%5.1%0%2023*2024**10Description:Thesourceforecastthat,in2024,TV–includingconnectedTV(CTV)–advertisingspendinginLatinAmericawillgrowbylittlemorethanfivepercent,followinganincreaseofnearlysevenpercentayearearlier.Brazil,Mexico,andArgentinawereLatinAmerica'sleadingadmarketsbyadexpenditure.ReadmoreNote(s):LAC;2023;includingCTV;*Estimate.**Forecast.ReadmoreSource(s):GroupMAnnualchangeinout-of-home(OOH)advertisingspendinginLatinAmericain2023and2024AnnualchangeinoutdooradspendinginLatinAmerica2023-202435%30.4%30%25%20%15%10%5%7.5%0%2023*2024**11Description:Thesourceforecastthat,in2024,out-of-home(OOH)–includingdigitalout-of-home(DOOH)–advertisingspendinginLatinAmericawillincreasebyapproximately7.5percent,followingagrowthrateofover30percentayearearlier.Brazil,Mexico,andArgentinawereLatinAmerica'sleadingadmarketsbyadexpenditure.ReadmoreNote(s):LAC;2023;includingDOOH;*Estimate.**Forecast.ReadmoreSource(s):GroupMAnnualchangeinaudioadvertisingspendinginLatinAmericain2023and2024AnnualchangeinaudioadspendinginLatinAmerica2023-202410%9.4%8%6%4%2%0%1.2%2023*2024**12Description:Thesourceforecastthat,in2024,audioadvertisingspendinginLatinAmericawillincreasebylittlemorethanonepercent,followinga9.4-percentgrowthrateoneyearbefore.Brazil,Mexico,andArgentinawereLatinAmerica'sleadingadmarketsbyadexpenditure.ReadmoreNote(s):LAC;2023;*Estimate.**Forecast.ReadmoreSource(s):GroupMAnnualchangeinprintmediaadvertisingspendinginLatinAmericain2023and2024AnnualchangeinprintadspendinginLatinAmerica2023-20240.7%0.4%0.2%-0.3%-0.8%-1.3%-1.8%-2.3%-2.8%-3.3%-2.9%2023*2024**13Description:Thesourceforecastthat,in2024,investmentsinadvertisinginprintmedia–includingtheirdigitalextensions–inLatinAmericawilldecreasebyalmostthreepercent,followinga0.4-percentgrowthrateayearearlier.Brazil,Mexico,andArgentinawereLatinAmerica'sleadingadmarketsbyadexpenditure.ReadmoreNote(s):LAC;2023;includingdigitalextensions;*Estimate.**Forecast.ReadmoreSource(s):GroupMAnnualchangeindigitaladvertisingspendinginLatinAmericain2023and2024AnnualchangeindigitaladspendinginLatinAmerica2023-202419.8%20%17.4%15%10%5%0%2023*2024**14Description:Thesourceforecastthat,in2024,onlineadvertisingspendinginLatinAmericawillexpandbynearly20percent,followinganestimated17.4-percentgrowthrateinthepreviousyear.Brazil,Mexico,andArgentinawereLatinAmerica'sleadingadmarketsbyadexpenditure.ReadmoreNote(s):LAC;2023;*Estimate.**Forecast.ReadmoreSource(s):GroupMDistributionofdigitaladvertisingspendinginselectedmarketsinLatinAmericainJune2024,bydeviceDigitaladspendinselectedmarketsinLatinAmerica2024,bydeviceShareofonlineadvertisingMobile40%Desktop50%0%10%20%30%60%70%80%90%100%VenezuelaEcuadorHondurasPuertoRico*NicaraguaUruguay79.91%78.15%78.02%77.92%76.59%76.03%75.89%74.74%74.53%74.15%73.96%73.94%20.09%21.85%21.98%22.08%23.41%23.97%24.11%25.26%25.47%25.85%26.04%26.06%MexicoChileElSalvadorGuatemalaArgentinaCostaRica15/statistics/1330153/digital-ad-spend-latin-america-device-countryInJune2024,mobileaccountedforanestimated79.9percentofVenezuela'sdigitaladvertisingspending,thehighestshareamongthedisplayedLatinAmericanmarkets.InEcuador,itreachedalmost78.2percent,whileinPeruitstoodbelow71percent.ReadmoreNote(s):LAC;June2024;estimates;includingdisplay,video,andtextformatsonopenweb,social(Facebook,YouTube),andretailmedia,bothonmobileanddesktopdevices;excludingsearch;*PuertoRicowasincludedintherankingdespite[...]

ReadmoreSource(s):AdmetricksCHAPTER

03CountrycomparisonAdvertisingspendinginselectedcountriesinLatinAmericaandtheCaribbeanfrom2017to2029(inmillionU.S.dollars)AdvertisingspendinginselectedcountriesinLatinAmerica&theCaribbean2017-2029BrazilMexicoPuertoRico*BoliviaArgentinaEcuadorParaguayHaitiColombiaCostaRicaCubaChilePeruDominicanRepublicGuatemalaNicaraguaPanamaElSalvadorSurinameUruguayHondurasBelizeJamaicaGuyana25,00020,00015,00010,0005,000020172018201920202021202220232024**2025**2026**2027**2028**2029**17Description:In2025,advertisingspendinginthepresented24LatinAmericanandCaribbeanmarketswillcollectivelyamounttoanestimated43.94billionU.S.dollars,ofwhich18.89billiondollars(around43percent)willcomefromBrazilalone.Mexicowillfollowwith10.88billiondollars,whileArgentinaroundedupthetopthreewithalmost3.51billiondollars.ReadmoreNote(s):LAC;2017to2023;*PuertoRicowasincludedintherankingdespitebeinganunincorporatedterritoryoftheUnitedStates.**Forecast.DatashownisusingcurrentexchangeratesandreflectsmarketimpactsoftheRussia-Ukrainewar.[...]

ReadmoreSource(s):Statista;StatistaAdvertising&MediaInsightsChangeinadvertisingspendinginselectedcountriesinLatinAmericain2024ChangeinadspendinginselectedcountriesinLatinAmerica2024300%260.8%250%200%150%100%50%14%12%11.3%11.1%10.6%0%Argentina*BrazilLatinAmericaMexicoUruguayCostaRica18Description:In2024,advertisingspendinginArgentinaincreasedbyover260percent,albeitmostlyduetoinflation.InBrazil,advertisingexpenditurerose14percent,abovetheLatinAmericanaverageof12percent.Mexico,Uruguay,andCostaRicaalsorecordeddouble-digitgrowthrates,althoughbelowtheregionalaverage.Accordingtothesamesource,socialmediawillbeLatinAmerica'sfastest-growingadchannelin2025.ReadmoreNote(s):LAC;2024;*Thesourceaddsthattheincreaseinthatmarketwasmainlyinfluencedbyinflation.ClickhereformoreinformationonArgentina'sconsumerpriceindex(CPI).ReadmoreSource(s):Adlatina;IPGMediabrands;MagnaGlobalDigitalvideoadvertisingspendinginselectedcountriesinLatinAmericaandtheCaribbeanin2024(inmillionU.S.dollars)DigitalvideoadspendinLatinAmerica&theCaribbean2024,bycountrySpendinginmillionU.S.dollars05001,0001,5002,0002,500BrazilMexico2,3101,840ArgentinaChileColombiaPuertoRico*Ecuador422.7274.6234102.693.26CostaRicaPeru73.4369.72DominicanRepublicPanama68.3560.48Uruguay49.67Bolivia30.3219Description:Fromtheselectedregions,therankingbyadspendinginthe'VideoAdvertising'segmentofthedigitaladvertisingmarketisledbyBrazilwith2.31billionU.S.dollarsandisfollowedbyMexico(1.84billiondollars).Incontrast,therankingistrailedbyBelizewith2.25millionU.S.dollars.?Findotherinsightsconcerningsimilarmarketsandsegments,suchasarankingbycountryregardingadspendinginthesearchadvertisingsegmentofthedigitaladvertisingmarketandarankingbycountry[...]ReadmoreNote(s):LAC;asofOctober2024;forecast;*PuertoRicowasincludedintherankingdespitebeinganunincorporatedterritoryoftheUnitedStates.DataprovidedbyStatistaMarketInsightsareestimates.Definition:VideoAdvertisingincludesall[...]

ReadmoreSource(s):Statista;StatistaDigitalMarketInsightsSearchadvertisingspendinginselectedcountriesinLatinAmericaandtheCaribbeanin2024(inbillionU.S.dollars)SearchmediaadspendinLatinAmerica2024,bycountrySpendinginbillionU.S.dollars1,500

2,000

2,50005001,0003,0003,5004,0004,500BrazilMexicoArgentinaColombiaChileDominicanRepublicPeruCostaRicaEcuadorPuertoRico*PanamaUruguayBolivia20Description:TheadspendingrankinginthedigitaladvertisingmarketisledbyBrazilwith4.23billionU.S.dollars,whileMexicoisfollowingwith1.65billiondollars.Incontrast,Surinameisatthebottomoftherankingwith8.15milliondollars.?Findotherinsightsconcerningsimilarmarketsandsegments,suchasarankingbycountryregardingadspendinginthebanneradvertisingsegmentofthedigitaladvertisingmarketandarankingofsubsegmentsinNorthAmericaregardingadspendinggrowthin[...]

ReadmoreNote(s):LAC;asofOctober2024;estimates;*PuertoRicowasincludedintherankingdespitebeinganunincorporatedterritoryoftheUnitedStates.DataprovidedbyStatistaMarketInsightsareestimates.Definition:DigitalAdvertisingrefersto[...]

ReadmoreSource(s):StatistaDigitalMarketInsightsDigitalretailmediaadvertisingrevenuesinLatinAmericafrom2021to2028(inbillionU.S.dollars)DigitalretailmediaadrevenuesinLatinAmerica2021-202865435.454.53.592.591.8421.30.86100.512021202220232024*2025*2026*2027*2028*21/statistics/1398154/ad-spend-retail-media-latin-americaIn2024,retailmediaadvertisingspendinginLatinAmericawillamounttoanestimated1.84billionU.S.dollars,upover40percentfrom1.3billiondollarsayearearlier.Thefigurewasforecasttocontinuetorise,farexceedingfivebilliondollarsby2028.ReadmoreNote(s):LAC;2021to2023;includingadsboughtthroughretailmedianetworks(RMNs)thatmaynotappearone-commerceappsorwebsites;*Forecast.

ReadmoreSource(s):eMarketer;ProgrammaticadvertisingspendinginLatinAmericafrom2017to2028(inbillionU.S.dollars)ProgrammaticadspendinLatinAmerica2017-202825201523.622.2920.9919.6118.2516.7715.2213.7610.441059.077.556.02020172018201920202021202220232024*2025*2026*2027*2028*22Description:In2023,programmaticadvertisingspendinginLatinAmericastoodat16.77billionU.S.dollars.Furthermore,thecorrespondingexpenditurewasexpectedtoincreaseto23.6billiondollarsby2028.Brazil,Mexico,andArgentinaweretheleadingLatinAmericanprogrammaticmarketsasofMarch2024.ReadmoreNote(s):LAC;2017to2023;*Forecast.ReadmoreSource(s):StatistaMobileadvertisingspendinginselectedcountriesinLatinAmericain2024(inbillionU.S.dollars)MobileadspendinginselectedcountriesinLatinAmerica2024AdspendinginbillionU.S.dollars30124567BrazilMexico6.642.99ArgentinaColombiaChile1.050.680.62Peru0.220.2DominicanRepublicEcuador0.160.130.1CostaRicaGuatemalaUruguay0.1Panama0.1Bolivia0.0723Description:In2024,BrazilwasLatinAmerica'slargestmobileadvertisingmarket,withaforecastmobileadspendingofapproximately6.64billionU.S.dollars.MexicoandArgentinafollowedwitharoundthreebillionandonebilliondollars,respectively.ReadmoreNote(s):LAC;May2024;forecastSource(s):StatistaDigitalMarketInsightsChangeinmobileadvertisingspendinginselectedcountriesinLatinAmericain2024MobileadspendgrowthinLatinAmerica2024,bycountryGrowthrate10%0%5%15%20%ArgentinaDominicanRepublicChile19.3%15.2%14.5%14.4%ColombiaPeruSurinameMexico13.6%13.4%13.3%13%BelizeParaguayJamaica12.1%12%Brazil11.9%CostaRicaGuyana11.5%11.4%24Description:Therevenuegrowthrankinginthe'DigitalAdvertisingMobile'segmentofthedigitaladvertisingmarketisledbyArgentinawith19.3percent,whiletheDominicanRepublicisfollowingwith15.2percent.Incontrast,Cubaisatthebottomoftherankingwith8.1percent.?Findotherinsightsconcerningsimilarmarketsandsegments,suchasarankingbycountryregardingadspendinginthedigitaladvertisingmarketandarankingbycountryregardingrevenueinthedigitaladvertising[...]ReadmoreNote(s):LAC;asofOctober2024;estimates;*PuertoRicowasincludedintherankingdespitebeinganunincorporatedterritoryoftheUnitedStates.DataprovidedbyStatistaMarketInsightsareestimates.Definition:DigitalAdvertisingrefersto[...]

ReadmoreSource(s):StatistaDigitalMarketInsightsDigitaladvertisingspendingperinternetuserinselectedcountriesinLatinAmericain2023(inU.S.dollars)DigitaladspendperinternetuserinLatinAmerica2023,bycountrySpendinginU.S.dollars01020304050607080PanamaCostaRicaUruguay70.9260.6359.85Brazil51.85Chile48.89MexicoGuyana47.9647.81DominicanRepublicArgentinaColombiaNicaraguaEcuador44.3538.5325.4622.922220.96Paraguay25Description:TheaverageadspendingperinternetuserrankinginthedigitaladvertisingmarketisledbyPanamawith70.92U.S.dollars,whileCostaRicaisfollowingwith60.63U.S.dollars.Incontrast,Haitiisatthebottomoftherankingwith6.47U.S.dollars,showingadifferenceof64.45U.S.dollarstoPanama.ReadmoreNote(s):LAC;Jan1sttoDec31st2023Source(s):StatistaDigitalMarketInsightsCHAPTER

04CreativerankingsLatinAmericancountrieswiththehighestnumberofawardsattheCannesLionsInternationalFestivalofCreativityin2024MostawardedLatinAmericancountriesattheCannesFestivalofCreativity2024Numberofawards010203040506070807890BrazilArgentinaMexico161514PeruColombiaEcuador117CostaRicaHondurasPuertoRico*41127Description:Duringthe2024editionoftheCannesLionsInternationalFestivalofCreativity,Brazilreceived84awards,makingittheLatinAmericanmarketwiththemosttrophiesthatyear.ArgentinaandMexicoroundedupthetopthreewith16and15wins,respectively.BrazilwastheonlyLatinAmericannationtorankamongthetop10most-awardedcountriesattheCannesLionsAwardsthatyear.ReadmoreNote(s):France,LAC;asofJune23,2024;excludingawardssharedamongmultiplecountries;*PuertoRicowasincludeddespitebeinganunincorporatedterritoryoftheUnitedStates.ReadmoreSource(s):MarketingDMostcreativeadvertisingmarketsworldwidein2023(indexscore)Mostcreativeadvertisingmarketsworldwide2023Numberofpoints01,0002,0003,0004,0005,0006,0007,0008,000UnitedStatesFrance7,225.12,397.22,342.5UnitedKingdomCanada1,806.21,714.5BrazilAustraliaGermanyIndia1,649.21,235.91,211.61,129.71,105.3MexicoArgentina28Description:In2023,theUnitedStatestoppedthelistofmostcreativeadvertisingmarketsworldwide,collectingover7.22thousandpointsinthepresentedcreativityranking.Thatwasmorethanthefollowingthreecountriescombined–France,theUnitedKingdom,andCanada.TheU.S.wasalsotheworld'slargestmarketbyadspendingin2024.ReadmoreNote(s):Worldwide;2023Source(s):WARCMostcreativeadvertisingmarketsinLatinAmericain2023(indexscore)MostcreativeadvertisingmarketsinLatinAmerica20232,0001,8001,6001,4001,2001,0008001,714.51,129.71,105.3737.1600400241.9Peru225.9Chile20070.40BrazilMexicoArgentinaColombiaUruguay29/statistics/1180182/most-creative-advertising-markets-latin-americaIn2023,BrazilwasnamedthemostcreativeadvertisingmarketinLatinAmerica,scoringover1.71thousandpointsinthepresentedcreativityranking.MexicoandArgentinafollowedwitharound1.13thousandand1.11thousandpoints,respectively.ReadmoreNote(s):LAC;2023Source(s):WARCMosteffectiveadvertisingmarketsinLatinAmericain2023(indexscore)MosteffectiveadvertisingmarketsinLatinAmerica2023Numberofpoints0100200300400500600700800BrazilColombiaArgentinaMexico718.7415.7342.3300.4Peru252.2Chile205.6Ecuador156.6DominicanRepublicUruguay114.492HondurasElSalvador40.83030Description:In2023,BrazilwasnamedthemosteffectiveadvertisingmarketinLatinAmerica,scoringalmost719pointsinthepresentedeffectivenessranking.ColombiaandArgentinafollowedwithabout416and342points,respectively.Accordingtoanothersource'sprojections,Argentina,Uruguay,andMexicowereamongLatinAmerica'sfastest-growingadmarketsin2024.ReadmoreNote(s):LAC;2023Source(s):WARCMostcreativeadvertisingcampaignsinLatinAmericain2023(indexscore)MostcreativeadvertisingcampaignsinLatinAmerica2023Numberofpoints050100150200250300350400MorningAfterIsland(Honduras)DataTienda(Mexico)338.8206.3203.1PlasticFishingTournament(Mexico)WeDidn'tWriteThisCampaign(Chile)Influencers'Friends(Colombia)NativeSportscasters(Mexico)DogsWithoutBorders(Brazil)ThePostponedDay(Argentina)TheOfficeCleaners(Argentina)TheArtofSelfExamination(Argentina)131.3131.1131116.4114.4113.7112.931Description:In2023,theadvertisingcampaign"MorningAfterIsland"–createdbyOgilvyTegucigalpafor?GrupoEstratégicoPAE–wasnamedthemostcreativeadcampaigninLatinAmerica,scoring338.8pointsinthepresentedcreativityranking.Italsotoppedtheglobalrankingofmostcreativeadcampaignsthatyear.?"DataTienda,"createdbyDDBMexicoCityforWeCapital,and"PlasticFishingTournament,"madebyWeBelieversNewYorkforCorona,followedwith206.3and203.1points,respectively.

ReadmoreNote(s):LAC;2023Source(s):WARCCHAPTER

05BrandrankingsLeadingLatinAmericanbrandsin2024,bybrandvalue(inbillionU.S.dollars)MostvaluablebrandsinLatinAmerica2024ValueinbillionU.S.dollars40CoronaExtra(Mexico)Itaú(Brazil)268101210.48.3BancodoBrasil(Brazil)ModeloEspecial(Mexico)Bradesco(Brazil)5.55.25BodegaAurrera(Mexico)MercadoLibre(Argentina)Claro(Mexico)4.64.64.2Petrobras(Brazil)3.43.3Telcel(Mexico)33Description:In2024,MexicanbeerCoronaExtrawasthemostvaluablebrandinLatinAmericaatapproximately10.4billionU.S.dollars.Tw